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HAG: Explanation for a dispute on capital contribution contact with FPT Capital 1. On December 19, 2011, FPT Fund Management Joint Stock Company (FPT Capital) and Hoang Anh Gia Lai Rubber Joint Stock Company (now is Hoang Anh Gia Lai International Agriculture Joint Stock Company (code: HNG)) signed the capital contribution contract with following content:
- Total capital contribution value: VND76,500,000,000
- Price stock: VND51,000/share
- Stock volume: 1,500,000 shares (On June 2015, HNG issued additional stock to existing shareholders at the ratio of 49.5% and raise total number of shares to 2,242,500 shares.)
2. On September 03, 2015, FPT Capital sent an Announcement which requested the company and Mr. Doan Nguyen Duc to buy 2,242,500 HNG’s shares at 21 Jan 2016, with total value of VND 112,972,965,282.
3. The value of HNG’s shares required by FPT Capital to buy in FPT Capital's calculation method is not reasonable, while the contract has some legal issues that they are not compliant with the law regulation. Therefore, we did not agree. Because the two parties did not find a common voice, FPT Capital sued to the Court.
4. Currently, the company has appointed the lawyer to represent the company and Mr. Doan Nguyen Duc to join the proceedings and the lawsuit is being considered by the Court and no final judgment. HOSE
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